Two state-owned banks in Bangladesh, BASIC Bank and Rajshahi Krishi Unnayan Bank (Rakub), have sought clarity from the government regarding their proposed merger with other banks. BASIC Bank has expressed concern over significant deposit withdrawals since the merger announcement, while Rakub has voiced objections to merging with a weaker bank. Despite Rakub’s reluctance, the government has approved the merger with Bangladesh Krishi Bank (BKB). The central bank aims to force the merger of at least 10 banks by January to address default loans and enhance governance. BASIC Bank and Rakub’s requests highlight uncertainties surrounding the merger process and the need for government intervention.
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